Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1887-06-13
Lease of the Passumpsic r. R.
The lease of the Passumpsic rai


road. including the Massawipp
branch. has been made to the Boston
& Lowell, a strong corporation, which
is a power in the railroad matters oil
New England. 1t is stated that the
Boston q Maine corporation has s
bargain with the Boston & Lowell
whereby the latter will be leased &c
the former when certain matters in
New Hampshire can be Strengthened
/ out. The lease is made at the rate
! of ) per cent annually until 1890,
/ when it is to be at the rate of pei
for the remainder of 80 years. This
insures a good rate of interest and
puts the stock of the Passumpsic road
at a premium of Il per cent, in the
start. The Boston & Lowell road al
ready possesses several hundred miles
of track. reaching out in different di-
rections from Boston and controlling
several important branches. The
old P. and O. is under this manage
ment, and has become q liUe and
prosperous branch. Since it went
into the hands of the new corporation
it has been put in good running or
der, and with connections hereafter
to be made westward, is likely to be-
come large thoroughfare for west
ern freight, and a popular route of
travel. The Boston & Lowell road
has made amicable arrangements
with the Southeastern road and with
the Canada & Pacific route. which
makes a good through line from
Canada to all New England points.
The Passumpsic road, during the
last few years has been ably man
aged, and has not only been made a
better road in regard to iron, road
bed, bridges and equipments, but
has done an encouraging business,
until it has become to be regarded as
a good road in every respect, and a
good paying enterprise. Their sue
cess has been gained through the able
management of good board of di-
rectors. and a most efficient superin-
tendent. Some good luck has attend
ed it in the building of the roads
from Newport to Montreal, and the
extension of other branches of roads
that have become feeders in Canada.
Under the new arrangement the
Passumpsic is to be known as the
Passumpsic Division, and the man
agement to be left in the hands of
H. E. Folsom, superintendent. This
would appear to be good stroke of
policy. Under Mr.. Folsom's very
careful and able management the
road has greatly improved in many
respects, and the corporation
itself, as well as the people
all along the line, have been
both pleased and satisfied with the
running of the road. Mr.. Folsom
was trained up in railroad business,
and in a smaller position became
perfectly familiar with the business
of the road, its patrons and its
wants. He has so managed affairs
since he became superintendent as
to keep the friendship of the people,
while he has guarded the interests
of stock holders. He has granted
all reasonable favors, extended IA
cilities to all who were engaged in
business enterprises along the line
of the road, and acted on the prin-
ciple that whatever helped to build
up manufacturing or business enter
prises, helped the road correspOn-
dinghy. Since he took the manage
ment few accidents have occurred
which have resulted in loss of life
or of property. We are glad to
learn that Mr. Folsom is to be re-
tanned, and there is no reason to
doubt that the road will continue
to be well managed.
The Inter State law is at present
interfering somewhat with the easy
management of the different lines
of roads, and tariffs are unsettled,
but it is presumed that there will be
a better state of affairs ere long in
this regard and business will settle
down as heretofore.